Apple Faces Margin Test as iPhone 18 BOM Could Jump 38%

TrendForce estimates the iPhone 18 Pro’s bill of materials could rise about 38% versus the 2025 model due to memory-price inflation, putting pressure on Apple’s margins. The company could absorb part of the cost or raise prices to protect shipments, with memory costs expected to keep rising into 2027. The iPhone 18 cycle will test Apple’s premium-pricing power, even as the company enters it from a position of strength with solid Q3 revenue and margins.